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Daily (22.12.2020): New strain of coronavirus in the UK weighed heavily on crude oil prices on Monday
Crude oil futures fell on Monday, weighed down by new travel restriction measures imposed at British borders due to a new strain of coronavirus, reviving concerns over an unsteady recovery in global energy demand. Hence, Brent crude dropped by 2.6% to settle at $50.91 a barrel. Meanwhile, U.S WTI crude closed at $47.97 a barrel, posting a 2.3% loss on a daily basis.
read more... 22/12/2020
European demand to rise by 2.3pc in 2021
Power consumption in Europe is expected to rise by 2.3pc year on year in 2021, following a demand recovery due to Covid-19, the International Energy Agency (IEA) said.
read more... 15/12/2020
Daily (14.12.2020): Crude oil prices edged lower on Friday despite coronavirus vaccine rollout
Crude oil prices edged lower on Friday, as investors await in anticipation for global demand recovery amid coronavirus vaccine rollout in multiple countries. As such, Brent oil shed by 0.6% to settle at $49.97 a barrel, while WTI crude lost 0.5% to close at $46.57 a barrel.
read more... 14/12/2020
European lockdowns weigh on global fuel recovery
As the second wave of the virus hit many Western countries, governments imposed new lockdowns, closing restaurants and bars and banning gatherings. But the measures were not as strict as during the first wave
read more... 11/11/2020
French power demand recovery halts on new lockdown
French power demand has this month halted its recovery following the reintroduction of a nationwide lockdown in late October, but the year-on-year decline has still slowed compared with the first round of Covid-19 restrictions in the spring.
read more... 10/11/2020